Mar 31, 2015
1. Since the Company operates in a single segment i.e. "Paper & Paper
Board". Accounting Standard (AS) 17-" Segment Reporting" issued by the
institute of Chartered Accountants of India is not applicable.
2. Balances of Trade receivable, Trade payables and Advances as at
31st March, 2014 are subject to confirmation.
3. In the opinion of Board of Directors, the Current Assets, Loans &
Advances have the value at which they are stated in the Balance Sheet
as at31.03.2014 if realised in ordinary course of business.
4. Trade receivble includes Rs. 76.35 lacs for which suits are pending
in the court. In the opinion of Board of Directors, they are good as
fully recoverable.
5. The fixed Assets Register is under preparation, hence the book
Records and Physical verification of Fixed Assests could not be
reconciled. The steps are Being taken to complete it at the earliest.
6. The bifurcation of the total outstanding dues of small scale
industrial undertaking and other than small scale industrial
undertaking as well as the name small scale industrial, undertaking to
whom the company owes a sum of exceeding rupees one lacs and which is
outstanding for more than thirty days, are not disclosed in the Balance
Sheet as suppliers have not indicated their status on their
documents/papers whether they are small scale undertaking or not hence
it is not possible for the company to disclose the said information in
respect of trade creditors.
7. Previous year figures have been re-arranged and re-grouped wherever
necessary.
Mar 31, 2014
1. Contingent Liabilities and Commitments
(to the extent not providedfor)
Contingent Liabilities
Guarantees
Trade Tax
- 250,000,00
Letters of Credit
2,420,045 2,473,829
Commitment
17,566,519 15,427,467
(a) Estimated amount of contracts remaining
to beexecuted on capital account and not
provided for 582,158
2. Related Party Disclosures : 1. Shri Hinanshu Sangal
a Key management Personnel 2. Shri Amit Sangal
3. Shri Tanmay Sangal
4. Shri Vinayak Sangal
b Associated Company 1. Prema Chits (P) Limited
2. Shri Ganesh Credits (P) Limited
c Related Party Transactions : (Amount in Rs)
3. Since the Company operates in a single segment i.e. "Paper & Paper
Board". Accounting Standard (AS) 17-" Segment Reporting" issued by the
institute of Chartered Accountants of India is not applicable.
4. Balances of Trade receivable, Trade payables and Advances as at 31
st March, 2014 are subject to confirmation.
5. In the opinion of Board of Directors, the Current Assets, Loans &
Advances have the value at which they are stated in the Balance Sheet
as at31.03.2014 if realised in ordinary course of business.
6. Trade receible includes Rs. 76.35 lacs for which suits are pending
in the court. In the opinion of Board of Directors, they are good as
fully recoverable.
7. The fixed Assets Register is under pereparation, hence the book
Rocords and Physical verification of Fixed Assests could not be
reconciled. The steps are Being taken to cmplete it atthe earliest.
8. The bifurcation of the total outstanding dues of small scale
industrial undertaking and other than small scale industrial
undertaking as well as the name samall scale industrial, undertaking to
whom the company owes a sum of exceeding rupees one lacs and which is
outstanding for more than thirty days, are not disclosed in the Balance
Sheet as suppliers have not indicated their status on their
documents/papers whether they are small scale undertaking or not hence
it is not possible for the company to disclose the said information in
respect of trade creditors.
9. Previous yearfigures have been re-arranged and re-grouped wherever
necessary.
Mar 31, 2013
1. Since the Company operates in a single segment i.e. "Paper & Paper
Board". Accounting Standard (AS) 17- " Segment Reporting" issued by the
institute of Chartered Accountants of India is not applicable.
2. Balances of Sundry Debtors, Creditors and Advances as at 31st
March, 2013 are subject to confirmation.
3. In the opinion of Board of Directors, the Current Assets, Loans &
Advances have the value at which they are stated in the Balance Sheet
as at31.03.2013 if realised in ordinary course of business.
4. Sundry debtors includes Rs. 76.52 lacs for which suits are pending
in the court. In the opinion of Board of Directors, they are good as
fully recoverable.
5. E.T.P. running expenses have been debited under their respective
heads.
6. The bifurcation of the total outstanding dues of small scale
industrial undertaking and other than small scale industrial
undertakings as well as the name small scale industrial, undertaking to
whom the company owes a sum of exeeding rupees one lacs and which is
outstanding for more than thirty days, are not disclosed in the Balance
Sheet as suppliers have not indicated their status on their
documents/papers whether they are small scale undertaking or not hence
it is not possible for the company to disclose the said information in
respect of trade creditors.
7. Previous year figures have been re-arranged and re-grouped wherever
necessary. The accompanying notes form an Integral part of the
Financial Statements.
Mar 31, 2012
Term Loan from Axis Bank is secured by way of equitable mortgage of
[and & building and
hypothecation of Plant & Machinery and personal guarantee by Directors
of the Company.
From Axis Bank (forterm loan of Rs. 108500 Lacs)
At the rate of 3.5% above base rate. Present effective rate is 13.50%
p,a, {Previous year 12.25 p.a.).
Repayble in 96 Monthly instalment of Rs.11,30,000 each starting from
July 2007.
From Axis Bank (forterm Eoan of Rs, 94.00 Lacs)
At the rate of 3.5% above base rate. Present effective rate is 13.50%
p.a. (Previous year 12,25% pa), Repayble in 60 Monthly installment of
Rs. 1t57,0Q0 each starting from July 2011,
Vehicle Loan is secured by hypothecation of respective vehicles and
guaranteed by Directors of the Company, From Syndicate Bank (For term
loan of Rs 6,00 Lacs)
At the Present effective rate *s 15% p.a. (Previous year 12% p.a.)
Repayble in 59 monthly installment ofRs. 18031 each starting from July
2009,
From State Bank of India (forterm loan of Rs. 10.00 Lacs)
At the Present effective rate is 12% p.a. Repayble in 60 monthfy EMI of
Rs. 211867 each starting from May 2011.
1. Contingent Liabilities and Commitments (to the extent not provided
for) Contingent Liabilities
Trade Tax 706,678.00 656,678.00
Letters of Credit 17,868,005 9,840.480
Commitment
(a) Estimated amount of
contracts remaining to be
executed on capital
account and not provided for NIL 12,535,000
2. Since the Company operates in a single segment i.e. "Paper & Paper
Board", Accounting Standard (AS) 17- " Segment Reporting" issued by the
institute of Chartered Accountants of India is not applicable.
3. Balances of Sundry Debtors, Creditors and Advances as at 31st
March, 2012 are subject to confirmation.
4. In the opinion of Board of Directors, the Current Assets, Loans &
Advances have the value on realisation in the ordinary course of
business atleast equal to the amount at which they have been stated in
the Balance Sheet as at
5. In the absence of information from creditors of their status, the
amount due to small and micro enterprises is not ascertainable.
6. The financial statements for the year ended 31 st March 2011 had
been prepared as per the then applicable, prerevised Schedule VI of the
Companies Act, 1956. Consequent to the notification under the Companies
Act, 1956. the financial statements for the year ended 31st March 2012
are prepared under revised Schedule VI. Accordingly, the previous
yearflgures have been reclassified to conform to this year's
classification.
Mar 31, 2010
1. Estimated amount of contracts remaining to be executed on capital
account and not provided for i Rs. 12.00 (Previous Year Nil) against
which advance of Rs. 4.29 (PreviousYear Nil has been given.
2. Contingent Liabilities Not Provided for:
CURRENT YEAR PREVIOUS YEAR
a) Income Tax matters under appeal 21,39,517.00 24,86,351.00
b) Trade Tax under appeal 3,35,454.00 3,35,454.00
c) letter of comforts against
Buyers Line of Credit 91,38,965.00 -----
Issued by Syndicate Bank -----
d) U.P. Pollution Control Board 2,50,000.00 2,50,000.00
Amount of interest liability/
penalty, if ;any, on delayed / non
payment to sundry creditors/statutory
dues:- Amount uncertainable
3. Term Loan and Working Capital Loans from Syndicate Bank are secured
by way of equitable i mortgage of Land & building and hypothecation of
Plant & Machinery, Stock of Raw Material, Stores ] & spares, work in
process, finished goods semi finished goods, bills and Book Debts of
the Company and personal guarantee by Directors of the Company.
4. Term loan form ICICI is secured by hypothecation of respective
vehicles and guaranteed by Directors of the Company.
5. Balance of Sundry Debtors, Creditors and Advances as at 31st March,
2010 are subject to confirmation.
6. In the opinion of the Board of Directors, current assets and loans
and advances as at 31-3-2010 have a value on realisation in the
ordinary course of business at least equal to the amount at which they
have been stated in the Balance Sheet and appropriate Provision for all
the known liabilities (except otherwise stated) have been made in the
accounts.
7. Sundry Debtors has been shown after the deducting the amount of
advance from customers.
8. E.T.P. Running& Maintenance Expenses have been debited to their
respective heads.
9. In the absence of information form creditors of their status, the
amount due to small and micro enterprises is not ascertainable.
10. Pursuant to the Accounting Standard (AS)-22 "Accounting for Taxes
on Income" issued by The Institute of Chartered Accountants of India
applicable from 01.04.2002, the Company has provided deferred tax
liability of Rs. 49.98 lacs (Previous year deferred tax liability Rs.
71.70 lacs) during the year.
11. Since the Company operates in a single segment i.e. "Paper & Paper
Board", Accounting Standard (AS) 17-" Segment Reporting" issued by the
Institute of Chartered Accountants of India is not applicable.
12. Keeping In view of the provision fo section 115JB of Income tax
Act, 1961, provision for Income Tax j (MAT) has been made.
13. Previous year figure have been re-gruouped and re-arranged
wherever necessary Figures have been rounded off to the nearest
Rupees.
Mar 31, 2009
1. Estimated amount of contracts remaining to be executed on capital
account and not provided for NIL (Previous Year Rs. 13.67 Lac) against
which advance of NIL (Previous Year Rs. 9.73 Lac) has been given.
2. Contingent Liabilities Not Provided for:
CURRENT YEAR PREVIOUS YEAR
a) Income Tax matters under
appeal 24,86,351.00 24,86,351.00
b) Trade Tax under appeal 3,35,454.00 3,35,454.00
c) Service Tax -- --
d) U. P. Polution Control Board 250,000.00 250,000.00
e) Amount of interest liabolity
/penalty, if any,
on delayed/ non payment to sundry
creditors/statutory dues :- Amount uncertainable
3. Term Loans and Working Capital Loans from Syndicate Bank are
secured by way of equitable Mortgage of land & building and
Hypothecation of plant & Machinery, Stock of Raw Material, Stores &
Spares, Work in process, Finished goods, Semi finished goods, Bills and
Book Debts of the Company and personal guarantee by Directors of the
Company.
4. Term Loan from ICICI is secured by hypothecation of respective
vehicles and guaranteed by Directors of the Company.
5. Balances of Sundry Debitors, Creditors and Advances as 31st March,
2009 are subject to confirmation.
6. In the opinion of the Board of Directors, current assets and loans
and advances as at 31-3-2009 have a value on realisation in the
ordinary course of business at least equal to the amount at which they
have been stated in the Balance Sheet and appropriate Provision for all
the known liabilities (except otherwise stated) have been made in the
accounts.
7. Sundry Debtors has been shown after deducting the amount of advance
from customers.
8. E.T.P. Running & Maintenance Expenses have been debited to their
respective heads.
9. In the absence of information from creditors of their status, the
amount due to small and micro enterprirse is not accertainable.
10. Pursuant to the Accounting Standard (AS) - 22 "Accounting for
Taxes on Income" issued by The Institute of Chartered Accountants of
India applicable from 01-04-2002, the Company has provided deferred tax
liabilty of Rs. 71.70 lac (Previous year deferred tax liability Rs.
55.39 lac) during the year.
11. Since the Company operates in a single segment i.e. "Paper & Paper
Board", Accounting Standard (AS) 17- "Segment Reporting" issued by the
Institute of Chartered Accountants of India is not applicable.
The particulars given above have been identified on the basis of
information available with the Company.
12. Keeping in view of the provision of section 115JB of Income Tax
Act,1961. provision for Income Tax (MAT) has been made.
13. Previous year figure have been re-grouped and re-arranged wherever
nacessary. Figures have been rounded off to the nearest Rupees.
NOTE: The Installed capacity as shown above has been certified by the
Management and can not be verified by Auditors being a technical
matter.
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